I was talking to a businesswoman recently – she is successful in her field but is starting to get bogged down in the day to day running of her business. In particular, administration and bookkeeping are starting to grind and take the shine out of her enjoyment of her businesses.
This is theme I come back to time and again because it is a common story but one that has a simple solution – DELEGATION.
We may have many ‘good’ reasons why delegation is hard and why we should do all the ‘easy’ jobs in our businesses:
– it can be expensive to pay someone else
– perhaps they will do the job wrongly or prove unreliable
– it will take time for them to settle in and the process will be distracting
However, you cannot escape the truth that however much you try to ‘create’ time by managing it better, there will only ever be 24 hours in a day! There will come a point (or you may already be there) where there is simply not enough time to do all that is needed in your business.
So I would answer each of the objections above like this:
- You are much more valuable to your business than you may credit. Your time is likely to be worth much more to your business per hour than the £20-£30 per hour you might need to pay a good administrator/bookkeeper. Even though we are accountants, doesn’t mean to say that we should do our own bookkeeping.
- There are jobs which only you can do in your business. These undelegatable jobs include creating business strategy, and leading and managing your business (even if you work alone your business needs to be managed!). If administration and bookkeeping are keeping you so occupied you do not have time for strategy, or management, then your business will suffer considerably.
- A good bookkeeper is likely to do the job more quickly and efficiently than we would because we can often get distracted by the detail. We often do bookkeeping and admin tasks as a way of keeping busy so we can convince ourselves we do not have time for the difficult jobs – like sales and marketing!
- The benefit of using a bookkeeper yourself is that you can also vet them before recommending them to clients! If they are good they will settle down very quickly to the job at hand and that is what you want for your clients.
So do yourself a favour. If you have too little time to do the important things in your business – DELEGATE!